Statement from SBS Managing Director Michael Ebeid regarding 2014 Federal Budget outcomes for SBS

SBS Managing Director Michael Ebeid:

"SBS is already a lean and underfunded organisation and as such the $2 million per year funding cut announced in tonight's Budget will be felt across the organisation. However, we fully recognise that this is a tough Budget.

Through various government review processes, the Board and I have demonstrated that SBS has a lean and agile culture, with innovative employees that are, by necessity, highly-skilled at delivering more with less. We would be concerned should there be a further reduction in our funding as this would invariably impact on our content and audiences and, in turn, on our commercial revenue.

As SBS does rely heavily on commercial revenues, we regularly plan for changes to our overall funding and will now identify savings to absorb this funding cut which minimises the impact on SBS content and our audiences.

SBS is an efficient organisation which delivers enormous value to the Australian community with its modest funding, and providing services that reflect our unique multicultural Charter will only become more important as Australia continues to grow in cultural complexity."